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IMF commends SL’s debt agreement progress

June 27, Colombo (LNW): The International Monetary Fund (IMF) has hailed Sri Lanka’s recent finalisation of debt agreements with its key official creditors as a significant development.

IMF’s Senior Mission Chief for Sri Lanka Peter Breuer emphasised that these agreements mark a crucial milestone for Sri Lanka, bringing it closer to completing its debt restructuring and achieving sustainable debt levels.

“We anticipate rapid progress in reaching agreements with external private creditors in the near future,” Breuer told News1st.

These developments follow the concluded negotiations with the Official Creditor Committee (OCC) and China Exim Bank yesterday (26), representing substantial progress in stabilising its economic standing amidst recent financial challenges suffered by the island nation.

These agreements, totalling US$ 10 billion, involve restructuring arrangements with major bilateral lenders under the auspices of the OCC, co-chaired by Japan, India, and France.

Key committee members include Australia, Austria, Belgium, Canada, Denmark, Germany, Hungary, Korea, the Netherlands, Russia, Spain, Sweden, the United Kingdom, and the United States of America.

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